Selvaag Bolig ASA: Buyback of own shares for employee share purchase programmes
The buyback covers the repurchase of up to 500 000 shares, corresponding to 0.53 per cent of the shares in Selvaag Bolig ASA. Shares bought back will be utilised for the company’s incentive programmes – the share purchase programme for company management and the share saving programme for other employees.
Shares worth approximately NOK 25 million are to be purchased. The buyback will take place from 7 December 2021 to 14 January 2022. Buying will take place in tranches, with daily purchases limited to a maximum of 25 per cent of the average daily volume traded. The company will report its purchases every seventh day until 14 January 2022 or until the volume of 500 000 shares has been reached.
The buyback accords with the mandate provided by the company’s annual general meeting in April 2021. For more information on this mandate, see item 11 in the minutes of the AGM held on 27 April 2021. For information on the incentive programmes, see page 31 in the company’s annual report for 2020.
Shares acquired will be transferred to participants in the programmes in December 2022. Those not allocated will be utilised in later rounds of the share programmes.
Selvaag Bolig ASA has commissioned DNB Markets to implement the buybacks.
Further information from
Sverre Molvik, CEO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no
Kristoffer Gregersen, EVP communications, sustainability and corporate strategy, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: kgr@selvaagbolig.no
Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger, Trondheim and Stockholm. Selvaag Bolig represents a continuation of Selvaag's 70-year history and experience, and offers a broad variety of property types. The company is headquartered at Ullern in Oslo.
This release was distributed by Kristoffer Gregersen, EVP communications and sustainability, Selvaag Bolig ASA.
This information is subject to the disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.